Industry experts: floating wind will reach full commercialisation in the 2030s

A new report by NorthWind partner DNV shows that a majority of industry experts anticipate that floating offshore wind will reach full commercialisation by 2035.

The report titled Floating Wind: Turning Ambition into Action is based on a survey of 244 industry actors, including developers, investors, manufacturers, advisers and operators across the globe. When asked “When will floating offshore wind be fully commercialised with no subsidies?”, 25% of respondents answered 2030 and 34% answered 2035.

The questionnaire also asked respondents where they expect the reductions in floating offshore wind’s levelized cost of energy (LCOE) will come from. Here, standardisation is the top answer (21%), with bigger turbines (17%) and industrialisation (17%).

Where will the LCOE reduction come from?

Graph: DNV asked respondents where they see the reduction in levelized cost of energy come from for offshore wind.

Respondents were also asked where they say the biggest risk in the supply chain. Ports and infrastructure came up as the top answer (22%) followed by Installation vessel availability (19%) and Capacity (19%).

DNV’s Energy Transition Outlook forecasts that levelised costs for floating offshore wind could fall by almost 80 % by 2050.